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Regulatory Filings • Feb 24, 2016
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Corporate | 24 February 2016 12:30
_wige MEDIA AG is set to become the first German partner of the Alibaba Sports Group
DGAP-News: _wige MEDIA AG / Key word(s): Alliance
2016-02-24 / 12:30
The issuer is solely responsible for the content of this announcement.
Corporate News 24 February 2016
_wige MEDIA AG, ISIN: DE000A1EMG56 / WKN: A1EMG5
_wige MEDIA AG is set to become the first German partner of the Alibaba Sports Group
– Agreement on cooperation with Alibaba Sports
– Organisation, production and marketing of sporting events
– Transformation of digital platforms to China
– _wige accelerates digitalisation and internationalisation strategy
– Technology-transfer on the Chinese market
Cologne, 24 February 2016. _wige MEDIA AG will become the first German partner of the Alibaba Sports Group and can significantly accelerate the group’s digitalisation and internationalisation strategy. Today, the Alibaba Sports Group, a subsidiary of Alibaba Group Holding Limited, and _wige Media AG, Cologne, signed a cooperation agreement.
Fully-automated live broadcasting of sporting events
The cooperation between both companies will include the organisation, production and marketing of sporting events, initially in the core segment of motor sport. A further significant component of the cooperation will be the equipment of sports venues in China with innovative video technology and market the content in media channels, also in its own sports media programmes. This will be the first time that _wige MEDIA AG deploys its expertise in fully-automated live coverage of sporting events at an international level.
Alibaba Sports – ‘the ideal partner for ongoing expansion’
‘This cooperation is a significant milestone in our ongoing digitalisation and internationalisation strategy. We are delighted that Alibaba Sports has decided to collaborate with _wige in bringing European sports to China, equipping Chinese sports venues with technical infrastructures and in the production and marketing of sporting events. Alibaba Sports is an ideal partner for our ongoing plans for expansion into new and extremely attractive markets’, reports Peter Lauterbach, CEO of _wige Media AG.
Zhang Dazhong, CEO of the Alibaba Sports Group, says ‘We are very pleased to be a partner with _wige, as they are experts in sports broadcasting and operating with innovative digital technology and consistently making breakthrough in this area. Technology and science bring society progress, we’d like to have deep collaborations with _wige, dedicating ourselves to developing stadium intelligence and media presentation, bringing brand-new sports experience and making everyone a sports person.’
About the Alibaba Sports Group
Founded in September 2015, the Alibaba Sports Group is a sports platform established with the aim of placing the entire range of services from ticketing, and broadcasting rights to rights management in one hand. It addresses the interests of both spectators and sportspersons. The utilisation of Internet-based technologies will play a decisive role in the transformation of the sports industry in China. The Alibaba Sports Group is a subsidiary company of the Alibaba Group, an E-business giant in China.
About _wige MEDIA AG
_wige MEDIA AG is not only the producer of Formula 1 events, the DTM German Touring Car Masters series, the Handball Champions League, the ADAC Zurich 24-hour Race at the Nürburgring or German Football League matches, it also plans and realises events and content for prominent companies such as Porsche, Audi, Mercedes/AMG, Red Bull, VW or Deutsche Post AG. _wige-Media AG achieved an impressive earnings turnaround in the 2014 fiscal year: EBITDA improved by EUR5 million to +EUR3.5 million on an annual revenue of EUR60.2 million, a rise of 70 per cent against the previous year’s figure.
Contact:
_wige MEDIA AG
Am Coloneum 2
50829 Köln
www.wige.de
Tel: +49 [0] 221_7 88 77_ 0
Fax: +49 [0] 221_7 88 77_ 199
Investor Relations:
BSK Becker+Schreiner Kommunikation GmbH
Tobias M. Weitzel
Tel.: +49 [0] 2154_ 81 22 16
Email: [email protected]
2016-02-24 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
| Language: | English |
| Company: | _wige MEDIA AG |
| Am Coloneum 2 | |
| 50829 Köln | |
| Germany | |
| Phone: | +49 (0)221 7 88 77 0 |
| Fax: | +49 (0)221 7 88 77 199 |
| E-mail: | [email protected] |
| Internet: | www.wige.de |
| ISIN: | DE000A1EMG56 |
| WKN: | A1EMG5 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart |
| End of News | DGAP News Service |